Changing Consumer Behaviour in India

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  • Topic: Jainism, Culture of India, Mumbai
  • Pages : 8 (2650 words )
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  • Published : July 15, 2010
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CHANGES IN CONSUMER BEHAVIOUR OF INDIA 1
Executive Summary:-
Possibly the most challenging concept in the marketing is to deal with understanding the consumer behaviour. This research paper explains the changes occurred in consumer behaviour of India. The purpose of this research paper is to find out the factors that are affecting the consumer behaviour and what strategies can be formed to adopt those changes and achieve the long term growth and success. The synthesis of this research paper is based on the secondary data sources as well as the observation of buying behaviour of consumers. The attitude of Indian consumers has undergone a major transformation over the last few years. The Indian consumer today wants to lead a life full of luxury and comfort. He wants to live in present and does not believe in savings for the future. An important and recent development in India‟s consumerism is the emergence of the rural market for several basic consumer goods. Consumer behaviour is affected by a lot of variables, ranging from personal motivations, needs, attitudes and values, personality characteristics, socio-economic and cultural background, age, sex, professional status to social influences of various kinds exerted by family, friends, colleagues and society as a whole. We have developed a HSSE model that is: Health, Safety, Sophistication and Environment of Indian consumer. In this research we have found that today‟s consumers strictly follow their culture, tradition and values, as a result of which foreign companies were forced to give an Indian touch to them in order to succeed in India. McDonalds, MTV, Pepsi, Star TV, Coca Cola India and many more had to Indianise themselves to flourish in India. The Indian consumers have shown another major change in their buying behaviour. They just don‟t want availability of products; they also want better experience, services and ambience. This has led to the growth of shopping malls where a shopping, entertainment and better facility is all available under one roof. The tastes and preferences of the current generation are changing rapidly. The current generation does not mind paying extra for better facilities and ambience. One thing is for sure that the pace of change in the needs, desires and wants of the Indian consumers will be even steeper and will further change drastically in the near future. So to achieve sustainable long term success and growth, the marketer will have to understand that how consumers will respond to different product features, price and advertising appeal has a great advantage over its competitors. CHANGES IN CONSUMER BEHAVIOUR OF INDIA 3 Table of content

1 Introduction......................................................................................................4 2 Literature Review............................................................................................5,6 3 Objective...........................................................................................................6 4 Research Methodology....................................................................................6 5 Factors Affecting Consumer Behaviour........................................................7,8 6 Consumer’s Decision Making Process...........................................................8 7 Characteristics of Indian Consumer..............................................................9 8 The New Indian Market Structure................................................................10,11 9 Findings and Analysis......................................................................................12 Today‟s Consumer...........................................................................................12,13 Change at a Glance..........................................................................................13,14 Change in Marketing Strategies of Companies with Change in Consumer Behaviour of...
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